PGIM High Yield Bond Fund (NYSE:ISD) Stock Crosses Below 50-Day Moving Average – Time to Sell?

PGIM High Yield Bond Fund, Inc. (NYSE:ISD)’s stock price passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $13.88 and traded as low as $13.73. PGIM High Yield Bond Fund shares last traded at $13.90, with a volume of 102,735 shares traded.

PGIM High Yield Bond Fund Stock Performance

The firm has a 50-day simple moving average of $13.87 and a 200 day simple moving average of $13.71.

PGIM High Yield Bond Fund Announces Dividend

The firm also recently announced a dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were issued a $0.105 dividend. The ex-dividend date was Thursday, December 12th. This represents a dividend yield of 8.87%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Cetera Investment Advisers increased its position in PGIM High Yield Bond Fund by 8.3% in the 2nd quarter. Cetera Investment Advisers now owns 171,893 shares of the company’s stock valued at $2,214,000 after acquiring an additional 13,116 shares during the period. Sanctuary Advisors LLC acquired a new position in shares of PGIM High Yield Bond Fund in the second quarter valued at approximately $258,000. Raymond James & Associates raised its stake in shares of PGIM High Yield Bond Fund by 4.1% during the third quarter. Raymond James & Associates now owns 454,752 shares of the company’s stock worth $6,339,000 after purchasing an additional 18,025 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of PGIM High Yield Bond Fund by 1,294.0% during the third quarter. International Assets Investment Management LLC now owns 241,594 shares of the company’s stock worth $3,368,000 after purchasing an additional 224,263 shares during the period. Finally, SteelPeak Wealth LLC grew its position in PGIM High Yield Bond Fund by 33.9% in the 3rd quarter. SteelPeak Wealth LLC now owns 653,090 shares of the company’s stock valued at $9,104,000 after buying an additional 165,394 shares during the last quarter.

About PGIM High Yield Bond Fund

PGIM High Yield Bond Fund, Inc is a close ended fixed income mutual fund launched and managed by Prudential Investments LLC. The fund is co-managed by Prudential Investment Management, Inc It invests in the fixed income markets of the United States. The fund primarily invests in a diversified portfolio of high yield fixed income instruments that are rated below investment grade (Ba1 or lower by Moody’s Investors Service, Inc or BB+ or lower by Standard & Poor’s Ratings Services).